Duplex with Separate
For Sale
$399,900
Pending
4 Mayfair Terrace, Wichita Falls, TX 76308
Two residences offer private garages, covered patios, storage, and additional covered parking.
Property Size3,350 SF
Days on Market51
Property Features for 4 Mayfair Terrace
General Information
Standard status
Pending
Size
3,350 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Amenities
covered patio
storage building
Building Details
Buildings
1
Listing Agency:
HIRSCHI REALTORS
Listed By:
Jody Brannon · License #468
(940) 224-2626
Source:
Sandraworthamteam
Added: Aug 28
Changed: Oct 13
Last Checked: Oct 12 at 5:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HIRSCHI REALTORS
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Investment Insights
Based on property information with market context.
This duplex includes two separately metered residences with practical layouts and dedicated garage parking. Unit A has 2 bedrooms, 2 baths, a 1-car garage, covered patio, and storage building. Unit B provides 3 bedrooms, 2 baths, a 1-car garage, covered patio, storage building, and sprinkler system.
A shared 3-car carport expands the property’s covered parking capacity. Both residences are currently owner occupied, and the property is located at 4 Mayfair Terrace in Wichita Falls, TX 76308. The separate utility meters support independent household operations, while the mix of bedroom counts gives each unit a distinct configuration.
A shared 3-car carport expands the property’s covered parking capacity. Both residences are currently owner occupied, and the property is located at 4 Mayfair Terrace in Wichita Falls, TX 76308. The separate utility meters support independent household operations, while the mix of bedroom counts gives each unit a distinct configuration.
Key Highlights
- Two separately metered residences
- Unit A: 2 bedrooms, 2 baths, 1‑car garage, covered patio, and storage building
- Unit B: 3 bedrooms, 2 baths, 1‑car garage, covered patio, storage building, and sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,258
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,160
$605.2K
Cap Rate 7%
$432,257
$432.3K
Cap Rate 9%
$336,200
$336.2K
Market Conditions
NOI Build-Up for 3,350 SF
Gross rent
$46.2K $13.80/SF
− Vacancy
−$3.0K −$0.90/SF
EGI
$43.2K $12.90/SF
− OpEx
−$13.0K −$3.87/SF
NOI
$30.3K $9.03/SF
Area
Wichita Falls, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,160
Cap Rate 7%
$432,257
Cap Rate 9%
$336,200
Alternative Uses
Best Use
Multifamily LT 5
$432.3K
$378.2K – $504.3K
NOI $30,258 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 7.03%
Theoretical Best
Warehouse
$4.00M
$3.50M – $4.66M
NOI $279,861 @ 7.0% cap · market cap 69.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 76308, TX
20,305
Population
9,601
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
2,603
Density / Sq Mi
$70,789
Median Household Income
$40,433
Median Earnings
$1,083
Median Rent
$198,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer private garages, covered patios, storage, and additional covered parking.
Where is this duplex located?
The property is located at 4 Mayfair Terrace Wichita Falls, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two separately metered residences; Unit A: 2 bedrooms, 2 baths, 1‑car garage, covered patio, and storage building; Unit B: 3 bedrooms, 2 baths, 1‑car garage, covered patio, storage building, and sprinkler system
